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Wage increases and job growth have spiked premiums across workers’ compensation despite market challenges like medical inflation and a changing workforce, according to a recent report by Risk Replacement Services.
The property and casualty sector wrote $43 billion in workers’ comp premiums in 2023, the data showed, up from $42.5 billion in 2022. Over that same time, premiums jumped 1% across the industry at a combined ratio of 86%.
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Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
